Small Biz Retirement Quiz

Do you think you have a pretty good idea of what is involved in sponsoring a retirement plan? Do you think you have a good feel for how much it would cost to sponsor a 401(k) plan for your workers? Find out for sure. Take the Small Biz Retirement Quiz, and compare your knowledge with that of your peers.

Answer each question and click on the "How did I do?" button at the end of the quiz to calculate your score.

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1. You legally must match everything an employee contributes to a 401(k) plan.
Agree
Disagree

2. Once you set up a plan, you can never terminate it.
Agree
Disagree

3. You can share the administrative costs of a plan with your employees.
Agree
Disagree

4. A company that offers a retirement plan is legally required to offer the plan to all of its employees.
Agree
Disagree

6. In a 401(k) plan, an employee is always automatically vested in (entitled to)
any money contributed by the employer to his or her account.
Agree
Disagree

7. In some profit-sharing plans, employers do not need to make a contribution to the plan each year.
Agree
Disagree

Nothing contained herein is to be construed as an attempt to provide legal, accounting, actuarial, financial planning or other such professional advice. Any views expressed in this document should not be ascribed to the officers, trustees, members, or other sponsors of the Employee Benefit Research Institute, the EBRI Education and Research Fund, the American Savings Education Council, Mathew Greenwald & Associates, Inc., or their staffs.